As Donald Trump took the oath of office on January 20, he was flanked by some of the world’s wealthiest people. The billionaires present that day – including Elon Musk, Jeff Bezos and Mark Zuckerberg – had never been richer, flush with big gains from frothy stock markets.

Seven weeks later, it’s a different story. The start of Trump’s second term has delivered a stunning reversal for many of those billionaires sitting behind Trump in the Capitol Rotunda, with five having lost a combined $US210 billion ($335 billion) in wealth, according to the Bloomberg Billionaires Index.

Bloomberg Wealth